Marine fuels
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Latest marine fuels news
Browse the latest market moving news on the marine fuels industry.
Dutch FincoEnergies supplies B100 biodiesel to HAL
Dutch FincoEnergies supplies B100 biodiesel to HAL
London, 3 May (Argus) — Dutch supplier FincoEnergies has supplied shipowner Holland America Line (HAL)with B100 marine biodiesel at the port of Rotterdam for a pilot test. This follows a collaboration between HAL, FincoEnergies' subsidiary GoodFuels, and engine manufacturer Wartsila to trial blends of B30 and B100 marine biodiesel . HAL's vessel the Rotterdam bunkered with B100 on 27 April before embarking on a journey through the Norwegian heritage fjords to test the use of the biofuel. The vessel will utilise one of its four engines to combust B100, which will reportedly cut greenhouse gas (GHG) emissions by 86pc on a well-to-wake basis compared with conventional fossil fuel marine gasoil (MGO), according to GoodFuels. There is no engine or fuel structure modification required for the combustion of B100, confirmed HAL. The B100 marine biodiesel blend comprised of sustainable feedstock such as waste fats and oils. The firms did not disclose how much B100 was supplied, or whether this is the beginning of a longer-term supply agreement. Argus assessed the price of B100 advanced fatty acid methyl ester (Fame) 0°C cold filter plugging point dob ARA — a calculated price which includes a deduction of the value of Dutch HBE-G renewable fuel tickets — at an average of $1,177.32/t in April. This is a premium of $410.20/t to MGO dob ARA prices for the same month, which narrows to $321.68/t with the inclusion of EU emissions trading system (ETS) costs for the same time period. By Hussein Al-Khalisy Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Scrubber spread narrowest in 7 months on strong HSFO
Scrubber spread narrowest in 7 months on strong HSFO
London, 2 May (Argus) — Wholesale scrubber spreads in northwest Europe moved to their narrowest point in nearly seven months on Wednesday, on growing demand for high-sulphur fuel oil (HSFO) compared with sweeter bunker fuels. Fob very-low sulphur fuel oil (VLSFO) barge prices were assessed at an $82.50/t premium to those of HSFO barges in northwest Europe on Wednesday, their weakest since 10 October, when scrubber spread assessments hit $82.25/t. Growing demand for higher sulphur bunkers since the beginning of the year has supported prices. Quarterly bunker sales data released by the port of Rotterdam at the end of April , showed that total HSFO bunker sales were higher than those for VLSFO for the first time in at least three years. Some 820,000t of HSFO changed hands, the most HSFO sold in the first quarter since at least 2021. This compares with 680,000t of VLSFO, the smallest volume in any quarter at the port between 2021-2024. This shift in buying activity means wholesale prices of higher-sulphur residual product have strengthened faster than those of lower-sulphur ones so far this year. Fob HSFO barge prices grew by 14pc, to $472/t, between 29 December and 1 May. VLSFO prices on the other hand have risen by only 6pc over the same period to $554.50/t. Higher demand for HSFO has been linked to vessels opting to make diversions around the Cape of Good Hope in the wake of attacks by Houthi rebels in the Red Sea. Longer routes made by often larger vessels such as container ships, which are more likely to have a sulphur-scrubber installed, has led to increasing demand for cheaper, higher sulphur fuel. Market participants have previously said that VLSFO needs to maintain a premium of at least $100/t to make the economics of installing a scrubber on a vessel viable. Fast-steaming, whereby ships sail faster and burn larger quantities of fuel, was also carried out by ships avoiding the Red Sea in order that they adhere to delivery schedules in Eastern ports despite travelling a longer distance. By Bob Wigin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
HSFO demand supports Rotterdam 1Q bunker sales
HSFO demand supports Rotterdam 1Q bunker sales
London, 30 April (Argus) — Total sales of fossil bunker fuels and marine biodiesel blends at the port of Rotterdam were 2.45mn t in the first quarter this year, up by 13pc compared with the final three months of 2023 but 9pc lower year on year, according to official port data. Sales firmed across the board quarter on quarter, even though market participants had described spot bunker fuel demand in the region as "mostly limited" and shipping demand as lacklustre. High-sulphur fuel oil (HSFO) sales rose the most. Disruption in the Red Sea resulted in many vessels re-routing around the southern tip of Africa, increasing the incentive of bunkering with HSFO as opposed to very low-sulphur fuel oil (VLSFO) and marine gasoil (MGO), according to market participants. The longer journeys meant that vessels on the route increased their fuel consumption to reduce delivery delays, supporting conventional bunker fuel sales at Rotterdam. Higher prices for HSFO in Singapore also helped support HSFO demand in Rotterdam. Marine biodiesel sales at Rotterdam increased by 13pc on the quarter and by 76pc on the year in January-March, despite the Dutch government's decision to half the Dutch renewable tickets (HBE-G) multiplier for shipping at the turn of the year. The move has led to a substantial increase in prices for advanced fatty acid methyl ester (Fame) 0 blends in the Amsterdam-Rotterdam-Antwerp (ARA) hub. The inclusion of shipping in the EU's Emissions Trading System (ETS) from January may have lent support to demand for biofuel blends. Marine biodiesel made up 11pc of total bunker fuel sales at Rotterdam in the first quarter, the same share as the previous quarter, which was a record high. LNG bunker sales at Rotterdam in January-March soared by 45pc on the quarter and by 150pc on the year. By Hussein Al-Khalisy Rotterdam bunker sales t Fuel 1Q24 4Q23 1Q23 q-o-q% y-o-y% VLSFO & ULSFO 857,579 847,862 1,205,288 1 -29 HSFO 818,028 643,218 809,871 27 1 MGO/MDO 383,409 361,585 468,373 6 -18 Biofuel blends 262,634 233,108 149,206 13 76 Total 2,453,610 2,177,078 2,685,515 13 -9 LNG (m³) 131,960 91,305 52,777 45 150 Port of Rotterdam Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
China's international bunker sales rise in Jan-Mar
China's international bunker sales rise in Jan-Mar
Shanghai, 30 April (Argus) — Mainland China's international bunker sales reached about 5mn t in the first quarter, up by about 500,000t from a year earlier, according to market sources. February sales were slightly below 1.4mn t because of the lunar new year holiday, while volumes in January and March were each slightly above 1.8mn t. International bunkering sales at east China's Shanghai-Ningbo-Zhoushan hub — or the Yangtze river delta hub — increased significantly to 2.9mn t in the first quarter from 2.6mn t in the first quarter of 2023, as prices in the hub were more competitive than that in other east Asian ports. Sales at the port of Ningbo-Zhoushan rose to 1.8mn t from 1.78mn t, while that at the port of Shanghai surged to 1.1mn t from 0.8mn t. Zhoushan's very low-sulphur fuel oil (VLSFO) bunker price was lower than Singapore's for 43 of the 58 trading days that Argus reported in January-March. The Zhoushan VLSFO bunker price's discount to the Singapore bunker price averaged $8.20/t over January-March. Low domestic VLSFO prices in February-March cut Zhoushan's VLSFO bunker prices, but the low prices also prompted domestic refineries to reduce VLSFO production given lower margins. China's domestic VLSFO supply fell to 4.1mn t in the first quarter, down by 650,000t from a year earlier. The spread between Zhoushan's VLSFO bunkering price and Singapore's has narrowed and is now close to parity, as local refineries cut VLSFO production in April which boosted VLSFO prices during the month. But overall supply of domestic VLSFO in the second quarter will likely remain sufficient, given China's first batch of 8mn t of VLSFO export quota at the beginning of the year. Limited barge capacity may weigh on VLSFO sales in the second quarter. The Ningbo-Zhoushan port is facing tight barge capacity because of stringent customs inspections, which may further intensify in May, according to market participants. The situation may weigh on bunker sales at Ningbo-Zhoushan port in the second quarter, but is also expected to boost Shanghai's bunker demand as vessels choose to bunker there instead of at the Ningbo-Zhoushan port. Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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